Varde Management, L.P.
New York, NY
$67m in 4 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 10.9% of the portfolio this quarter.
Value
$67m
Stocks
4
Top 10 share
100.0%
Turnover
10.9%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- Ziff DavisZD48.7% of the fund+17%
- Surgery PartnersSGRY25.1% of the fund+33%
- EchoStarECHO24.1% of the fund+8%
- ZiprecruiterZIP2.1% of the fund+7%
Cut
Sold some of their stake.
None this quarter.
Sold out
Sold their entire stake.
None this quarter.
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Ziff DavisZD | 48.7% | $33m | 624,028 | +17% |
| Surgery PartnersSGRY | 25.1% | $17m | 1,003,447 | +33% |
| EchoStarECHO | 24.1% | $16m | 159,400 | +8% |
| ZiprecruiterZIP | 2.1% | $1m | 371,456 | +7% |
Options (1)
- Trump Media & Technology GroupDJT
- Type
- Put
- Value
- $1m
- Contracts
- 8,500
| Company | Type | Value | Contracts |
|---|---|---|---|
| Trump Media & Technology GroupDJT | Put | $1m | 8,500 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 11.1% since 30 June 2025.
Where the money is
Media & telecom72.8%
Health care25.1%
Technology2.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.